Michael has designated 5% of his paychecks for the year for presents (birthday, Monther's day, etc.) Write a solution to calculate the amount of money he can spread give the amount of money he earns.
If I understand correctly the money he can spread is meant to be the money he can spend? so all you have to do is take 5% of the money he earned. so .05*x = y
where x is total money earned and y is money able to spend
To calculate the amount of money Michael can spend on presents for the year, we need to know the total amount of money he earns for the year. Let's assume his annual income is X.
To find the amount of money he can spend on presents, we need to calculate 5% of his annual income. To do this, we can use the following formula:
Amount for Presents = (5/100) * X
Let's substitute the value of X with Michael's annual income to get the specific amount he can spend on presents.